Scotiabank Maintains Sector Outperform on Freeport-McMoRan, Lowers Price Target to $52
Portfolio Pulse from Benzinga Newsdesk
Scotiabank has maintained a Sector Outperform rating on Freeport-McMoRan but lowered its price target from $58 to $52.
August 19, 2024 | 3:08 pm
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Scotiabank has maintained its Sector Outperform rating on Freeport-McMoRan, indicating continued confidence in the company's performance. However, the price target has been lowered from $58 to $52, suggesting a more conservative outlook on its stock price.
The maintenance of the Sector Outperform rating suggests that Scotiabank still sees potential in Freeport-McMoRan's stock, but the lowered price target reflects a more cautious approach, possibly due to market conditions or company-specific factors. This mixed signal may lead to neutral short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100